It will be interesting to see how legacy institutions reconcile their existence within a highly regulated environment, against the absolute wild west of permissionless innovation that is Bitcoin. It is becoming harder to ignore Bitcoin, but the nature of the game is very different than what these institutions/regulators are used to playing.
How much will the legacy players bend? How much will they push to enforce rules on a social level? How hard will they push for technical changes? Hmm
'Know Your Hashrate'
This is a proposal to regulate bitcoin mining, such that regulated institutions would be able to purchase/etc coins while remaining compliant with FATF rules.
Of course, it is silly. Anyone can submit a valid hash to the network, bitcoin doesn't care about FATF rules. But still I wouldn't disregard this entirely: proposals like this have the potential to hurt bitcoin users greatly if they are adopted.
#Bitcoin privacy is hard.
After specifying a payment total to the sat, the customer just rounded up to the nearest 10k sats and hit send.
I'm wondering if this is maybe a wallet UI issue? Or a 'user error'?
Trying to even explain the issue to a newbie user is probably just information overkill.
Breaking news: Paypal entirely misses the point on #bitcoin.
Maybe its just step one to a larger offering of services, but I kinda doubt that Paypal is going to be a leader in interesting bitcoin tech/integration.
I remember reading a criticism of pgp’s interaction model (ie, issues around expanding the web of trust, and what is implied when a key is signed), but I can’t recall the exact nuance of it, and can’t seem to find what I’m thinking of when searching online. Anyone on here have a link for me?
"Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy."
~ Michael J. Saylor
This is probably the most nonsensical #bitcoin quote I’ve seen in a while, but Microstrategy (Saylor’s company) bought a whole lotta coin to hold in their treasury recently, and that’s actually a pretty interesting move.
Bitcoin is fascinating, but its hard to ignore how easily privacy could be lost via social mechanics, and how bad of an outcome that could be. We can build tools to protect privacy, but if most people just use gov-wallet, then the net outcome for the avg user still isn't great (wrt privacy).
(I think there are other benefits of adoption, even if privacy is lost-- but privacy is still quite important, obviously!)
Ah yes, just what I needed: a wallet that allows big-brother to double check that I'm only transacting with other big-brother approved entities. /s
The battle for privacy will not be easy, I'm sure there are plenty of other products like this being built quietly in the background right now. #bitcoin
#bitcoin allows value to be transferred just by communicating numbers. I feel like this use-case is quite lost in the current 'mainstream-bitcoin-meta'. Being a rocksolid SoV is a very important first step, but its also just the step that allows the subsequent steps to then happen.
Considering the value of the internet, imagine what BTC will be worth (if) when a chunk of internet traffic begins to include payment protocol data alongside the actual data payload 🤯
Interesting proposal for a new fee-bumping mechanism: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2020-September/018168.html
Haven't read the mailing list responses, but bitcoin-optech has a nice quick summary: https://bitcoinops.org/en/newsletters/2020/09/23/
It seems to me that this mechanism is a little worse for privacy (it will publicly link UTXOs that are otherwise potentially unlinked), but this seems to be a small consideration. Probably worth that risk in many use-cases, if it mitigates tx-pinning attacks.
Kraken getting a stamp of approval from regulators is not the start of #bitcoin banks, they've been around for a long while already.
Writeup on #bitcoin network topology. Didn't read it all, but looks like a nice writeup, especially if you've ever been confused about what a full node is, or how a miner interacts with the network, or how a wallet on your phone works.
Link to the disclosure text for the reported Wasabi wallet vulnerability:
This doesn't seem critical, from my understanding it at worst it lowers the apparent anon-set of auto-remixed coins in the view of a targeted attacker-- but nonetheless there is some drama playing out on social media around it. It is unsettling that I am consistently finding myself more wary of the dramatic instigation, than of the reported vulnerabilities themselves.
Well here it is: a Ledger hardware wallet full of shitcoins poses a security risk to your BTC holdings: https://monokh.com/posts/ledger-app-isolation-bypass
Not really surprised. More code = more chances for vulnerabilities. #bitcoin
🤖 GPT-3 take note:
Many links later, I'm somehow reading articles from the 'Contemporary Review' published by Strahan & co ltd in 1882. Some of it is really quite fascinating, life was very different, but also kind of the same.
This is one editorial I'm reading through: https://archive.org/stream/contemporaryrev15unkngoog#page/n64/mode/2up
In many places it calls into question the veracity of information that was acted on, the potential influence of translators, and the abuses occurring therein. Topics still relevant today.
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